Credit Industriel ET Commercial Takes $1.98 Million Position in Zillow Group, Inc. $ZG

Key Points

• Credit Industriel ET Commercial opened a new position in Zillow Group during the first quarter, buying 47,873 shares worth about $1.98 million.
• Several other institutional investors also adjusted their holdings, while insiders Errol G. Samuelson and CFO Jeremy Hofmann sold shares tied to tax withholding and a 10b5-1 plan. Insiders sold 42,910 shares worth about $1.61 million in the last quarter.
• Zillow reported quarterly EPS of $0.53, topping estimates, and revenue of $708 million, up 18.4% year over year. Analysts currently have a mixed view, with a consensus rating of Hold and an average price target of $69.48.

Credit Industriel ET Commercial bought a new position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 47,873 shares of the technology company's stock, valued at approximately $1,981,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Zillow Group during the 4th quarter valued at $152,050,000. Independent Franchise Partners LLP increased its position in shares of Zillow Group by 1.1% in the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company's stock valued at $138,135,000 after acquiring an additional 21,862 shares during the period. M&T Bank Corp raised its stake in shares of Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company's stock valued at $120,092,000 after acquiring an additional 1,600,097 shares during the last quarter. Tiger Global Management LLC raised its stake in shares of Zillow Group by 30.7% during the fourth quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company's stock valued at $69,849,000 after acquiring an additional 240,690 shares during the last quarter. Finally, UBS Group AG boosted its holdings in shares of Zillow Group by 44.5% during the fourth quarter. UBS Group AG now owns 1,018,448 shares of the technology company's stock worth $69,489,000 after purchasing an additional 313,643 shares during the period. 20.32% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zillow Group

In related news, insider Errol G. Samuelson sold 2,939 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.97, for a total value of $111,593.83. Following the completion of the transaction, the insider owned 134,039 shares of the company's stock, valued at approximately $5,089,460.83. This trade represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,501 shares of Zillow Group stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $205,737.40. Following the completion of the transaction, the chief financial officer owned 68,315 shares of the company's stock, valued at approximately $2,554,981. This represents a 7.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 42,910 shares of company stock worth $1,605,732 in the last quarter. Company insiders own 29.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings cut Zillow Group from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, May 22nd. Zacks Research cut Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Sanford C. Bernstein raised shares of Zillow Group from an "outperform" rating to a "buy" rating in a research report on Tuesday, May 26th. Evercore reiterated an "outperform" rating on shares of Zillow Group in a research note on Tuesday, March 17th. Finally, Royal Bank Of Canada cut their price objective on shares of Zillow Group to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, June 10th. Thirteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $69.48.

Zillow Group Trading Up 1.7%

Shares of ZG opened at $33.50 on Tuesday. The business's 50 day moving average is $36.41 and its 200 day moving average is $47.19. Zillow Group, Inc. has a 12-month low of $29.03 and a 12-month high of $90.22. The company has a market capitalization of $7.66 billion, a PE ratio of 134.30, a price-to-earnings-growth ratio of 1.43 and a beta of 1.95.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The business had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.17 million. During the same period last year, the firm posted $0.41 EPS. The company's revenue was up 18.4% on a year-over-year basis. Equities research analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Zillow Group Company Profile

Zillow Group NASDAQ: ZG is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow's core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.

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